With a population of more than 140 million people, Russia has one of fastest-growing pharmaceutical industries in the world, increasing at a rate of more than 10% annually. According to estimates, the value of the country's pharmaceutical market will rise from $20.91 billion in 2016 to $38.56 billion by 2021.
Nonetheless, due to recent events such as Russia's expulsion from the G8, countersanctions and so-called "soft" sanctions, the drastic devaluation of the ruble, plummeting foreign investment, widespread unemployment, and a staggering economic recession, multinational innovators are concerned about their long-term presence in Russia.
The Universe of Pharmaceutical Trademarks in Russia 2017 (second edition), authored by David Aylen, managing partner of Gowling WLG's Russia/CIS practice, provides a comprehensive review of the trademark aspects of the pharmaceutical industry in Russia today. The report also looks at the legal foundation for trademark protection in Russia, recent trademark decisions and the issues of counterfeiting and parallel importation.
Topics covered in the report include:
- Economic overview of the pharmaceutical industry in Russia
- The legal foundation for the protection of trademarks in Russia
- Decisions from Russia's IP Court and Supreme Arbitration Court
- Counterfeit pharmaceuticals
- The parallel importation of pharmaceuticals in Russia
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.